YEREVAN, March 16, /ARKA/. Tatul Manaserian, head of ‘Alternative’ think-tank, said today to resolve a set of very serious problems the Armenian authorities should develop an effective economic policy.

Speaking at a news conference at Novosti international press center he said the latest developments indicate that the authorities have a great deal of work to do in improving economic management. He then criticized the government’s latest steps aimed at cubing inflation saying they may only ease its aftereffects but not eliminate its causes.

On March 10 the government approved a set of amendments to the Law on Trade and Services and the Administrative Offences Code, which, if passed by parliament, would vest the government with powers to interfere swiftly and stop rise of prices of staples if they rise by more than 30% within one month. In accordance with these changes the government would be able to exercise this right within 90 days after which the prices are supposed to return to normal pricing formula.

Tatul Manaserian said today the country’s economy needs comprehensive, targeted and serious reforms saying also before they are implemented the authorities should specify the final goals.

‘The most important thing is to know where our economy is rolling to, which of the problems could be resolved and which of the ambitions should be postponed so that to achieve priority tasks,’ he said. -0-